Relmada Therapeutics (NASDAQ:RLMD) Trading 7.6% Higher – What’s Next?

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) traded up 7.6% during trading on Tuesday . The company traded as high as $6.81 and last traded at $6.8250. 330,362 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,419,127 shares. The stock had previously closed at $6.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler assumed coverage on shares of Relmada Therapeutics in a report on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 price objective on the stock. Zacks Research upgraded shares of Relmada Therapeutics to a “hold” rating in a report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Relmada Therapeutics in a report on Wednesday, January 28th. Mizuho boosted their price objective on shares of Relmada Therapeutics from $10.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, March 20th. Finally, Leerink Partners upgraded shares of Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 price objective on the stock in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Relmada Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Relmada Therapeutics Stock Performance

The firm has a market cap of $756.26 million, a price-to-earnings ratio of -6.61 and a beta of 0.43. The business’s 50 day moving average price is $6.93 and its 200-day moving average price is $5.08.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Tuesday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). On average, analysts forecast that Relmada Therapeutics, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Relmada Therapeutics

A number of institutional investors have recently modified their holdings of RLMD. XTX Topco Ltd bought a new stake in shares of Relmada Therapeutics during the 2nd quarter valued at about $28,000. LMR Partners LLP bought a new stake in shares of Relmada Therapeutics during the 2nd quarter valued at about $33,000. Goldman Sachs Group Inc. bought a new stake in shares of Relmada Therapeutics during the 1st quarter valued at about $33,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Relmada Therapeutics during the 4th quarter valued at about $64,000. Finally, Jane Street Group LLC bought a new stake in shares of Relmada Therapeutics during the 2nd quarter valued at about $69,000. Institutional investors own 45.24% of the company’s stock.

About Relmada Therapeutics

Relmada Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for pain and other central nervous system (CNS) disorders. The company applies a proprietary stereochemical approach to optimized drug candidates, aiming to improve safety, tolerability and efficacy profiles compared with existing treatments. Relmada’s research efforts center on modulation of NMDA receptors to address unmet needs in depression, neuropathic pain and related indications.

Relmada’s lead product candidate, REL-1017 (d-methadone), is being evaluated as a potential rapid-acting and maintenance treatment for major depressive disorder, with clinical studies underway to assess its utility in both acute and long-term settings.